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Housing Wire (which we got to via Business Insider) writes up a discouraging new report from a company called Lender Processing Services, which collects data on the mortgage industry. According to LDS, for every loan that was originated in the first 10 months of this year, three existing loans deteriorated. The worst performance was in the Northeast and the Northwest.


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  1. like most reports of this nature, it is all skewed by the garbage. the top 3 lines are subprime, option-arm and alt-a, what shocker. some option arm and alt a might cause some sales listings in brownstone brooklyn. i don’t really see it impacting this market to hardly any real extent.

    think of banking bonus season coming up. 25% down will be more of a reality for the non inheritance crowd.

    oh, the other line above the black average line is govt/other mortgages. again, shocker and not a real issue in real neighborhoods with people that have real jobs.

    the lowest 3 lines are conventional and jumbos etc. these are nearly horizontal I don’t see an issue.

    sorry, bears are betting on a currency and/or inflation crisis because otherwise anything priced right will sell.

    Maybe this will be an issue somewhere else, but i all i see in the rear view mirror is bear market over here. (when i say “here” i’m not talking about bed stuy or other brooklyn war zones)

  2. I’ve been out west in Southern California where it’s warm. But I’ll be back soon. NYC is the best damn city in the world — even though real estate prices are still way to high!

  3. I sold a condo in Miami at the peak of the market. Usually you can’t call the peak, but it was so obvious to anybody with half a brain that prices had skyrocketed beyond any rational explanation.

    Luckily, most folks don’t have half a brain, which makes business much easier for those of us who do.

    Warren Buffet must have two brains.

  4. Naw, ‘dope. But I should. They’re givin’ ’em away.

    Not a heat fan, just an NBA fan. I like a good comeback. Yeah, change would be good for Flash.

    ***Bid half off peak comps***